India’s fiscal policy is not supportive of monetary measures that the country’s central bank is employing to fight rampant inflation, the prime minister’s honorary economic advisor and former International Monetary Fund chief economist Raghuram Rajan said, while singling out the proposed Food Security Bill as a particular cause for concern. The Bill, which proposes to give about 68 per cent of population the legal right to subsidised food, will not only...

It's that time of the year when Kishore Lal Singh's eyes almost involuntarily scan the skies. The monsoons are coming. In the months ahead, for this Bhil farmer growing cotton, maize and soya south of the Malwa plateau in Madhya Pradesh, life will again hang on a knife's edge. If it rains well, his two bighas (about four basketball courts) of cotton will yield 1,000 kg. If not, he will...

-Reuters   Sitting at the edge of fields in the heart of India's grain bowl, Gurdayal Singh Malik shakes his head in resignation about the lack of workers needed for his 60-acre farm, blaming the government's flagship welfare program, the Mahatma Gandhi National Rural Employment Guarantee Scheme (MNREGS), for the shortage. Ever since the start of the program, which guarantees 100 days of work a year for rural households, the flow of...

-PTI   The food ministry plans to augment wheat and rice Procurement by 10 million tonnes to meet the expected demand for 70 million tonnes of foodgrain under the proposed National Food Security Act . "We have to increase the foodgrain Procurement to 70 million tonnes in order to meet the requirement under the proposed bill," according to a senior official. The government buys around 60 million tonnes of wheat and...

Rise to the occasion, PM tells Railways Ministry yet to finalise Food Security Bill draft Poor storage and movement of foodgrains are a matter of worry for the second consecutive year to the UPA government. Procurement during the current rabi marketing season has already exceeded last year's level. The Ministry of Consumer Affairs, Food and Public Distribution is bothered about the likely scenario of destruction of procured foodgrains during what is being described...